(CNBC) -- U.S. stocks fell on Wednesday after the earnings of a major automaker and a private sector jobs report came in lower than expected.
The Dow Jones Industrial Average shed about 323 points, or 0.9%, and closed near its session low. The S&P 500 slipped by 0.5% while the Nasdaq Composite ticked up 0.1%. The dip for the broader market came after the S&P 500 broke a two-day losing streak on Tuesday to post a record close, bringing its 2021 gains to more than 17%.
Shares of General Motors fell nearly 9%, weighing on the broader market, after the automaker missed earnings expectations for the second quarter. The automaker did raise its guidance for a key profit metric for the rest of the year.
Advertisement - story continues below